Question: Amortization. Beth has just borrowed $8,800 on a four-year loan at 9% simple interest Complete the amortization table, T. for the first five months of

 Amortization. Beth has just borrowed $8,800 on a four-year loan at
9% simple interest Complete the amortization table, T. for the first five
months of the loan a. The beginning balance of the loan for

Amortization. Beth has just borrowed $8,800 on a four-year loan at 9% simple interest Complete the amortization table, T. for the first five months of the loan a. The beginning balance of the loan for month 2 is $ (Round to the nearest cent.) b. The amount applied to principal in month 2 is $ (Round to the nearest cent) c. The amount of the monthly payment is $ (Round to the nearest cent) d. The amount applied to interest in month 3 is $ (Round to the nearest cent.) e. The amount applied to interest in month 4 is (Round to the nearest cent.) 1. For month 4 with a beginning balance of 58,337.58, the new balance is $. (Round to the nearest cent.) spreadsheet.) Payment Number 2 3 4 5 Beginning Balance $8,800 a $8,492.87 $8,337.58 $8.181.12 Payment Amount $218.99 $218.99 $218.99 $218.99 Applied to Interest $66.00 $64.85 d e $61.36 Applied to Principal $152.99 b $155.29 $156.46 g New Balance $8,647.01 $8,492.87 $8,337.58 f h g. The amount applied to principal in month 5 is $(Round to the nearest cent) h. For month 5, with a beginning balance of $8,181.12, and the amount applied to principal of 5157.63, the new balance is $ (Round to the nearest cent.)

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